Finance
The rupee rose 17 paise to settle at 85.59 vs the US dollar on Tuesday, aided by the American currency’s weakening in the international market and a positive tone in local markets amid an increase in risk appetite.
Forex traders say the US dollar is trading at its lowest level since February 2022, as President Donald Trump’s increased influence on Federal Reserve policy has reignited concerns about the central bank’s independence.
Furthermore, Brent crude prices remained low, providing a buffer for India’s import bill and helping to keep inflation under control.
The native currency opened at 85.66 per dollar on the interbank foreign exchange market.
During the day, it reached an intraday high of $85.34.
The domestic unit ended the day at 85.59, up 17 paise from the previous close.
On Monday, the rupee closed 26 paise lower at 85.76 against the dollar.
